Siemens Under Investigation For Payments To Russian Company

Siemens has been dogged by bribery allegations for years. In 2008 the company pleaded guilty to corruption charges in the U.S. and paid $1.6 billion in fines to settle corruption investigations in the U.S. and Germany. Prosecutors in those countries alleged that Siemens had engaged a systemic and far-flung bribery scheme, including in Russia. Siemens allegedly paid bribes to officials at Russian state-owned hospitals and to a quasi governmental entity in Russia responsible for implementing a traffic control system in Moscow.